Aug 13 2007 |
I Found A New TenantCategory: Property Diary- Project 1- Become A Landlord |
Right, so my scum-bag tenant is moving out on the 20th of august (can’t wait). And my new one is moving in on the 21st. Here’s the best part, though. My new tenant is a full-time career woman, and she wants to pay the 1 year rent up front (12 x £775 = £9300 + £775 security deposit). Tenants like that are gold dust. Not having to worry about collecting monthly payments is something all landlords must have wet dreams about.
Where did I find this tenant? Well, my letting agent found her for me. I was going to find a tenant myself (avoiding agent fees), but because my agent knew I was going to need tenants in there, he took viewings without telling me. We’re friends, so I let him get away with being a cheeky bastard like that. I wouldn’t have necessarily used a tenant that he found me, but because she was willing to pay the entire year’s fee upfront, his fee would definitely be worth paying.
At first I was a bit wary about why she would make such a proposal, so I did a bit of questioning. It turns out that she just sold her house, and made a nice lump sum. She can’t find her a suitable house for herself, so she’s going to rent for a year until she decides where she wants to live. That seems like a pretty legitimate reason to me.
I have to go in and sign contracts this week. I’m going to also make sure I do receive full payment before I hand over the keys.
Additionally, my scum-bag owes me £1.5k still; I should receive that at some point this week.
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Good for you son. Make sure the cash is none refundable and the tenancy has a no money back if you leave before the year is out clause in it. She will also want a more secure agreement from you as well as she is giving you 10k and doesnt want the place sold under her feet bla bla. Nothing wrong with that and you have well over your 15k now to reduce your payments etc.
Nice one
Badger
What solicitors are you going to use if any Joslin Rhodes by any chance !!
LOLOLOPL
I did something similar to that once before. renting because i couldn’t find a place i wanted to buy